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.ver <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Jeff Gongoll, Community Development Director <br />Cathy Mehelich, HRA Executive Director <br />DATE: December 15, 2008 <br />SUBJECT: Discuss HRA Application to Neighborhood Stabilization <br />Program (NSP) <br />Purpose: <br />1. Review the eligible activities for application to the Neighborhood Stabilization <br />Program (NSP). <br />2. Identify and establish the target neighborhoods for use of the funds. <br />3. Authorize staff to enter into a contract with SEH to complete and submit the NSP <br />grant application. <br />Background <br />The HRA reviewed the basics of this federal program at the December 1, 2008 meeting. <br />Since then, staff recently participated in another "working group" meeting with the other <br />communities that have been identified as eligible to receive the NSP monies. At the last <br />HRA meeting staff reviewed the following eligible/ineligible uses of the funds: <br />Eligible Activities: <br />a. .Establish financing mechanisms for purchase and redevelopment of foreclosed <br />homes and residential properties. <br />b. Purchase and rehabilitate homes and residential properties that have been abandoned <br />or foreclosed, in order to sell, rent, or redevelop such homes and properties. <br />c. Establish land banks for homes that have been foreclosed. <br />d. Demolish blighted structures. <br />e. Redevelop demolished or vacant properties. <br />Ineligible Activities: <br />a. Foreclosure prevention. <br />b. Demolition of non-blighted structures. <br />c. Purchase of properties not abandoned or foreclosed upon. <br />d. Redevelopment for commercial purposes. <br />